Paycom price target lowered to $115 from $135 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Paycom (PAYC) to $115 from $135 and keeps a Neutral rating on the shares. Paycom’s Q4 results were satisfactory, but 2026 guidance came in light, with Recurring & Other growth of 7%-8% missing consensus of 9.8%, reflecting a softening demand environment and intensifying competition despite improved 2025 KPIs, the analyst tells investors in a research note. The disconnect between better retention and client growth versus muted guidance leaves the macro and competitive outlook for 2026 uncertain, keeping the firm on the sidelines.